JPMorgan Chase
After a several month hiatus from Orbis, [http://politicsandwar.wikia.com/wiki/The_Tsardom_of_Russia Nicholas II] decided to return after being convinced by Turi Giuliano (Seb) to help work Emerald Bank. JP Morgan is a nerd and gladly obliged -- hence being named: JP Morgan '''and JPMorgan Chase. '''Earth history [https://en.wikipedia.org/wiki/J.P._Morgan_%26_Co. JPMorgan & Co] was founded in 1871 as "Drexel, Morgan & Co." by [https://en.wikipedia.org/wiki/Anthony_Joseph_Drexel Anthony Drexel] and [https://en.wikipedia.org/wiki/J._P._Morgan JP Morgan]. After Drexel's death in 1895, it was renamed JPMorgan & Co. Through his career at the helm of the corporation, he dominated the financial industry and was a key figure in forming AT&T, General Electric, and US Steel. He accumulated a personal wealth of $49 billion by his death, and was so rich he even bailed out the US government with his personal money ''in the scare of 1893. After the hit of the Great Depression, the government rushed to crack down on the financial sector and passed the 'Glass-Steagall Act' (1933) which made having retail and investment banking within one company illegal, JP Morgan & Co split. Retail banking continued under the name JP Morgan & Co, while Henry S. Morgan (then patriarch of the Morgan dynasty and grandson of JP Morgan) left to take on investment banking with founding 'Morgan Stanley. After just one year of operation, Morgan Stanley cleared $1 billion. Significant portions of the Glass-Steagall Act were undone by the Gramm–Leach–Bliley Act (1999), which some blame for the 2008 Credit Crisis. In 2000, JPMorgan & Co merged with [https://en.wikipedia.org/wiki/Chase_Bank '''Chase Manhattan] to form [https://en.wikipedia.org/wiki/Chase_Bank JPMorgan Chase & Co]. JPMorgan Chase is currently the 6th largest bank in the world by assets (totalling $2.49 trillion). Orbis History Small beginnings '---' Hiatus Even though [http://politicsandwar.wikia.com/wiki/The_Tsardom_of_Russia Nicholas II] had quit Orbis, after having such a substantial career he couldn't find it in himself to leave. He enjoyed the community on IRC and continued to talk to the last of his remaining friends from 2014 in The Syndicate. After stumbling across Seb talking of his bank, Nicholas II grew interested and was then convinced to return to Orbis to work Emerald Bank. '---' Culture shock Beginning anew after being in the top 50 nations for all of 2015 and into 2016 made starting over from scratch an awkward start. However, collecting commission from working Emerald Bank and receiving aid via the Teutonic Order's growth policy, JPMorgan Chase grew fast. Making a difference again '---' Resuming a role in government By the time JPMorgan Chase was roughly 67 days old (September 22, 2016), JP Morgan became Minister of Finance of The Teutonic Order (TTO). Once again could he say he has been in the government of every alliance he had been in: The Supreme Gentlemen, [[The Elysian League|'The Elysian League']], [[The Syndicate|'The Syndicate']], and now the Teutonic Order. Parodying the, then current, campaign of Donald Trump for the presidential election of 2016, JP Morgan made the image seen right leading up to his being made Minister of Finance. '---' Beginning of tenure JP Morgan restructured the bank according to real life accounting principles and had TTO adhere to a strict budget. After about ten days of tenure, he recuperated 3/4ths (75%) of debts that had accumulated over several months. Adhering to his outlined budget, the bank of The Teutonic Order grew both substantially and quickly. '---' A long awaited project JP Morgan had returned to Orbis for the purpose of banking, and, by this point, had done business with Emerald Bank and held office as Minister of Finance for TTO, but still wanted his own private bank. This is something he had considered when he was under the name Nicholas II, but had never undertaken. On October 31st, he [https://politicsandwar.com/forums/index.php?/topic/17220-new-bank-startup/ announced the creation] of Randlord Capital Group. As noted by now of the names: Nicholas II and JP Morgan, JP Morgan is a history buff -- especially for the 1800s. The name: Randlord Capital Group, is a historical reference. The randlords 'were entrepreneurs turned industrialists and business magnates who amassed power, prestige, and wealth in the 'rand region of South Africa (then a colony) in the diamond and gold mining industries. JP was thinking up new ideas constantly and in February 2017 was faced with a new challenge. There was not enough outstanding cash to make three large loans, but JP did not want competition to get their business. Instead of offering bonds, as Stratton Oakmont had, and considering Randlord did not sell stock, he had to create a new security to sell, which he [https://politicsandwar.com/forums/index.php?/topic/18610-investment-opportunity/ announced] on February 25th. JP pooled the loans together, split them up into pieces of $5,000,000, and sold the debt he would have accumulated otherwise by taking a loan or selling bonds to cover the cost of the three loans. He also created a new temporary entity (SPE), which he funnelled the money through. JP correctly projected that the interest revenue from the securities would exceed $100,000,000, with the largest investor earning $23,803,867, and correctly projected the timeline of the investments. By five months later, on March 15, 2017, Randlord CG was worth $738,732,596. A popular ad for JP's bank: '---' Trouble at Home In January, Emmad (then leader of The Teutonic Order) announced he would be stepping down and was to appoint a replacement from among his cabinet. JP and Nick Fury (with whom he had grown close) jokingly said in a private server that they'd form their own alliance, which grew into a reality. Just as The Elysian League was formed two years prior, it was done quietly. Recruiting people from within The Teutonic Order secretly (as well as people in other alliances, namely former member of The Elysian League). Eventually, growth of the membership had reached a decent number and the non-existent alliance was solidified enough that being secretive didn't matter as much. So it was decided to recruit Botan Abe, who had racked up a little infamous reputation for being uncooperative, but seemed all-around a decent guy outside of P&W talk. He ended up leaking the information to Emmad, which was the catalyst to the creation of The Federal Reserve on February 26th, 2017. '--- Big Plans' After nagging Nick Fury enough, Fury created his own bank (P&P Banking) modelled after Randlord. He and Kevin invested hundreds of millions more than JP ever did into his own bank. Soon, P&P was twice the size of Randlord. Always concocting new ideas, JP thought to invest in the other banks of Orbis with stagnant cash via creating a tertiary company between Randlord and P&P which would be paid into monthly. A complicated relationship ensued between this tertiary company, the Federal Reserve, P&P Banking, and Randlord Capital Group, which aimed for ultimate efficiency. JP had always wanted, and considered his bank and P&P, to be competitive with the large banks dominating Orbis even for Randlord's and P&P's much smaller size. At one point, JP was threatened by Psweet of [http://politicsandwar.wikia.com/wiki/Stratton_Oakmont Stratton Oakmont] with a price war, threatening to lower rates to run Randlord out of business. However, unwittingly, Psweet, like every other bank on Orbis, charged interest in a different fashion to Randlord and P&P. This article will not reveal this method of interest, but under JP's method Randlord and P&P could charge any rate of interest -- even minuscule amounts -- and still turned a profit. It was under legitimate consideration by JP and Nick Fury to start this conflict. Later on, in addition to having a hand in three banks and a parent organization, JP thought to start a resource brokerage which would use FIFO. In preparation to understand the market, JP created an elaborate chart for tracking market changes (seen right). This idea never came to fruition. '--- 2015 Again' Just as in 2015 as Nicholas II, JP began to lose interest in Orbis. After a couple months of not attending to duties as either head of Randlord Capital Group or the Governor of Economics for the Fed, JP decided to quit once again on October 8th, 2017. Any outstanding debt of Randlord was written off and invested into P&P. Fun facts * JP Morgan's cities are named after real life people: big name financiers and bankers of the 1800s, important politicians of financial regulation, current bank CEOs and financiers, secretaries of the treasury, and economists. Category:Nations with Advertisements